I recently attended a CRS training on lead conversion. The class was taught by a man who has been in the business a long time. As you would expect, he spent more time on the types of marketing he was most familiar with.
In our discussion about direct mail, he shared that consistency was not only important but that this type of marketing would take a long time before we would see results. Sellers won't even take note of our mailings until they've received them for 12 months. Additionally, they won't trust us to list their house until they've seen our faces over and over again. Usually, around 24 months of mailings before we'll actually see any business from this form of marketing. That was an eye opener to me.
I've never been well-versed in direct mail. But it's easy to see why someone like Barbara Todaro has so much success with this type of marketing. Sellers have been receiving direct mail from her for 35 years. I think waiting two years to get a response from my direct mail efforts is too long. Especially, when there are agents like Barbara Todaro in my market who have been using this form of marketing for such a long time.
As I thought about this, I had a flashback to a marketing training I had attended in my first brokerage. An experienced agent, 25 years in the business, was sharing some of the direct mail pieces she had used over the years. She had a very impressive portfolio of postcards. I was only 6 months into the business and asked which company she used for her direct mail pieces. She said her husband handled that and I should speak with him.
When I went into her office to speak with her husband, he immediately shot me down. He said he had no intention of sharing the name of the company and I should do my own research. I was shocked. I told him his wife had sent me to see him. He didn't care. He wasn't about to give away what he believed to be a trade secret.
It was shortly after that encounter that I decided to find another way to promote my business. The internet seemed to be the only way for me to successfully compete with these agents who'd been in the business so many years.
Since that time, I've created a huge internet following--90% of my business last year came from internet leads. Remember that agent's husband who wouldn't share his postcard provider, he's probably wondering how I rank so highly in the search engines.
We don't have to do every type of marketing under the sun to be successful. In my eyes, direct mail is too costly and takes too long. Therefore, I've concentrated my efforts on blogging and my website. My social media presence is almost non-existent. However, I know some agents who knock the ball out of the park with their social media marketing. That's not for me and it's not where my target audience hangs.
When considering any type of marketing, we should have our target audience in mind. Find your marketing niche. For example, my target audience is buyers 45 - 65 years of age. They are working professionals with at least a Bachelor's degree. Their income is in excess of $150K. They have already owned one or more homes. Their children are grown and they possibly have grandchildren. They are looking to improve their lifestyle by moving to an area that offers lots of recreational and cultural opportunities. There are a few other things but you get the idea.
Obviously, I'm contacted by buyers who don't meet this profile. I still help them. But you might be surprised how much of my business comes from people who meet this profile exactly. They are drawn to me because I don't try to be all things to all people. I very intentionally have directed my marketing to them.
My point--be true to yourself. You'll be surrounded by agents who are very successful at direct mail. Others who are very successful at social media and still others who are very successful at blogging and website development. Don't think you need to do it all. Find your marketing niche--what works best for you and go with it. Create a client profile and then direct your marketing to that group.
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